Exponent Announces Quarterly Dividend
Increases Dividend Payment to $0.25 Per Share
MENLO PARK, Calif., Feb. 5, 2014 (GLOBE NEWSWIRE) -- Exponent, Inc.
(Nasdaq:EXPO) today announced that its Board of Directors has declared a
quarterly cash dividend of $0.25 per share of common stock to be paid on March
28, 2014 to all common stockholders of record as of March 7, 2014.
Exponent anticipates paying quarterly dividends each year in March, June,
September and December. Future declarations of quarterly dividends and the
establishment of future record and payment dates are subject to the final
determination of Exponent's Board of Directors.
"During 2013, we generated more than $61 million in cash from operations and
closed the year with $156 million in cash and short-term investments,"
commented Dr. Paul Johnston, President and CEO. "Given our strong cash flow
and balance sheet, we have made a significant increase in the dividend and
continue to believe that a combination of stock repurchases and dividends will
return value to shareholders."
Exponent is an engineering and scientific consulting firm providing solutions
to complex problems. Exponent's multidisciplinary organization of scientists,
physicians, engineers, and business consultants brings together more than 90
technical disciplines to address complicated issues facing industry and
government today. The firm has been best known for analyzing accidents and
failures to determine their causes, but in recent years it has become more
active in assisting clients with human health, environmental and engineering
issues associated with new products to help prevent problems in the future.
Exponent may be reached at (888) 656-EXPO, email@example.com, or
This news release contains, and incorporates by reference, certain
"forward-looking" statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995, and the rules promulgated pursuant
to the Securities Act of 1933, as amended, and the Securities Exchange Act of
1934, as amended thereto under) that are based on the beliefs of the Company's
management, as well as assumptions made by and information currently available
to the Company's management. Such forward-looking statements are subject to
the safe harbor created by the Private Securities Litigation Reform Act of
1995. When used in this document and in the documents incorporated herein by
reference, the words "anticipate," "believe," "estimate," "expect" and similar
expressions, as they relate to the Company or its management, identify such
forward-looking statements. Such statements reflect the current views of the
Company or its management with respect to future events and are subject to
certain risks, uncertainties and assumptions. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, the Company's actual results, performance, or achievements could
differ materially from those expressed in, or implied by, any such
forward-looking statements. Factors that could cause or contribute to such
material differences include the possibility that the demand for our services
may decline as a result of changes in general and industry specific economic
conditions, the timing of engagements for our services, the effects of
competitive services and pricing, the absence of backlog related to our
business, our ability to attract and retain key employees, the effect of tort
reform and government regulation on our business, and liabilities resulting
from claims made against us. Additional risks and uncertainties are discussed
in our Annual Report on Form 10-K under the heading "Risk Factors" and
elsewhere in the report. The inclusion of such forward-looking information
should not be regarded as a representation by the Company or any other person
that the future events, plans, or expectations contemplated by the Company
will be achieved. The Company undertakes no obligation to release publicly any
updates or revisions to any such forward-looking statements.
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